Renewable Energy Target Scheme.
The Renewable Energy Target (RET) is a scheme by the Australian Federal Government designed to reduce the national output of greenhouse gases. This is done in two ways; firstly by reducing emissions in the electricity sector from gas and coal fired power stations, and secondly by encouraging the generation of electricity through sustainable and renewable sources in the effort to combat climate change.
The RET allows large-scale power stations and small-scale power stations alike to generate energy certificates for every megawatt hour of electricity they produce. Small-scale Technology Certificates (STCs) are forward-created for a lump-sum payment after installation, and Large-Scale Technology Certificates (LGCs) are annecually created for a fixed period of time.
These certificates are purchased by electricity retailers and surrendered to the Clean Energy Regulator (CER) to meet their legal responsibilities under the Renewable Energy Target.
Energy Certificates under the RET.
The RET scheme has two main components, the Large-scale Renewable Energy Target (LRET) and the Small-scale Renewable Energy Scheme (SRES).
The LRET aims to ensure that a proportion of electricity generation comes from renewable sources on a large scale. This includes wind farms, solar farms and hydro-electric facilities. These activities can be eligible to generate LGCs for a fixed period.
The SRES incentivises the installation of smaller scale renewable energy systems in Australian homes and businesses. Eligible activities can include solar panels, wind turbines and solar or air-source heat pumps, with a capacity of 100kW or less. These activities can generate forward created STCs.
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How Ecovantage Fits In.
Accredited Certificate Providers (ACPs), like Ecovantage, ensure LRET and SRES projects meet the scheme requirements, then generate energy savings certificates. Those certificates are sold on a closed market and the value is often used as an offset against the project costs.
At Ecovantage we offer end-to-end projects solutions, from current-state assessment through to project implementation and certificate generation. We also work with a network of trusted installers to carry out projects on our behalf, and our industry-leading Compliance team undertake project review and certificate applications for other energy organisations.
Australia’s Most Versatile ACP.
Ecovantage specialises in creating, trading, and supplying all energy certificates, including ESCs. We assist you in balancing the financial and environmental scales for each project.
Ecovantage provides an end-to-end service, from site audits and project management, through to generation and monetisation of the created certificates.
The treatment of certificates is based on the financial and carbon goals of each organisation. The options available are presented with their relevant outcomes on both fronts, to ensure your decision is an informed one. Ecovantage generates and trades certificates as an authorised provider through the Independent Pricing and Regulatory Tribunal (IPART).